Price Archives - Scott Norton Design

Promotion

Having a great product at the right price in the right store at the right time means nothing if nobody knows it’s there. Communicating the features and benefits of the product and informing the target market where to find it falls to the promotion element of the marketing mix. Promotional messages should support the theme […]

The Pricing Process

The basic process for developing a price strategy involves 6 steps. Develop Pricing Objectives Objectives should be clear. Are we appealing to a small market segment who expect to pay premium dollar? Are we attempting to enter a new market and quickly generate more demand? Your objective should say so. Identify Target Market and Potential […]

Establishing Your Price Strategy

Price is often the most difficult portion of the marketing mix to get right. The final price can affect the design, the production, the profit, and your brand image. In deciding how to manage pricing, there are 6 considerations: Company Objectives Try not to ignore your company’s mission statement when establishing pricing strategies. For Example, […]

Pricing Strategies and Methods

Strategies Whichever pricing policy is in place, it should be the result of a strategy that is in tune with your marketing objectives. Pricing generally falls into one of 4 categories: Psychological Ever wonder why some things are just expensive and most things on those “only on TV” ads are $19.95? The perception of quality […]

Pricing Policies

As a company’s goals and mission statements change and develop over time, products evolve through their life cycle, and external market forces create new treats and opportunities, the price of a particular product must change. Although there are legal limitations to how flexible prices may be, price flexibility is still possible. There are generally 4 […]

Pricing

The price of an item is more than just a sequence of numbers and a decimal point. In actuality, the Price is any value exchanged for a good or service. A variety of terms can be used in place of price, including wage, salary, commission, interest, tuition, and rent. The price is whatever you exchange […]